Goodwill Industries of Southeastern Louisianaapp1.lla.la.gov/PublicReports.nsf/BB3120AD18D355F...the combined financial position of Goodwill Industries of Southeastern Louisiana, Inc

O F F I C I A L

(Xerox necessarycopies from ihiscopy anrj PLACEBACK in PILE

GOODWILL INDUSTRIES OFSOUTHEASTERN LOUISIANA INC

AND GOODWORKS, INC.'

Audit of Combined Financial Statements

December 31,2007

Under provisions of state law, thi* report is a publicdocument, A copy of the report has been submitted tothe entity and other appropriate public officials. Thereport is available for public inspection at the BatonRouge office of the Legislative Auditor and, whereappropriate, at the office of trje parish clerk of court.

Release Date

Contents

Independent Auditor's Report 1 - 2

Financial Statements

Combined Statement of Financial Position 3

Combined Statement of Activities 4

Combined Statement of Cash Flows 5

Combined Statement of Functional Expenses 6

Notes to Combined Financial Statements 7-13

Supplemental Information

Schedule I - Combining Statement of Financial Position 14

Schedule II - Combining Statement of Activities 15

Schedule til - Combining Statement of Functional Expenses 16-17

Schedule IV - Comparative Statements of Functional Expenses 18

OMB CIRCULAR A-133 SECTION

Schedule of Expenditures of Federal Awards 19-20

Report on Internal Control Over Financial Reporting and on Complianceand Other Matters Based on an Audit of Financial Statements Performedin Accordance with Government Auditing Standards 21-22

Report on Compliance with Requirements Applicable to EachMajor Program and Internal Control Over Compliance inAccordance with OMB Circular A-133 23 - 24

Schedule of Findings and Questioned Costs 25

Status of Prior Year Audit Findings 26

PORTE SEHRTCERTIFIED PUBLIC ACCOUNTANTS

Independent Auditor's Report

To the Boards of DirectorsGoodwill Industries of Southeastern

Louisiana, Inc. and Goodworks, Inc.

We have audited the accompanying combined statement of financial position of GoodwillIndustries of Southeastern Louisiana, Inc. and Goodworks, Inc. (the Organizations) as ofDecember 31, 2007, and the related combined statements of activities, functional expenses andcash flows for the year then ended. These financial statements are the responsibility of theOrganizations' management. Our responsibility is to express an opinion on these financialstatements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the UnitedStates of America and the standards applicable to financial audits contained in GovernmentAuditing Standards, issued by the Comptroller General of the United States of America. Thosestandards require that we plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements are free of material misstatement. An audit includesexamining, on a test basis, evidence supporting the amounts and disclosures in the financialstatements. An audit also includes assessing the accounting principles used and significantestimates made by management, as well as evaluating the overall financial statementpresentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects,the combined financial position of Goodwill Industries of Southeastern Louisiana, Inc. andGoodworks, Inc. as of December 31, 2007, and the combined changes in its net assets and itscash flows for the year then ended in conformity with accounting principles generally accepted inthe United States of America.

In accordance with Government Auditing Standards, we have also issued a report datedJune 20, 2008, on our consideration of Goodwill Industries of Southeastern Louisiana, Inc. andGoodworks, Inc. internal control over financial reporting and on our tests of its compliance withcertain provisions of laws, regulations, contracts, grant agreements and other matters. Thepurpose of that report is to describe the scope of our testing of internal control over financialreporting and compliance and the results of that testing and not to provide an opinion on theinternal control over financial reporting or on compliance. That report is an integral part of anaudit performed in accordance with Government Auditing Standards and should be read inconjunction with this report in considering the results of our audit.

110 VETERANS MEMORIAL BOULEVARD, SUITE 200, METAIRIE, LA 70005-4958 • 504,835.5522 • FAX 504.835.55355100 VILLAGE WALK, SUITE 202, COVINGTON, LA 70433-4012 • 985.892.5850 • FAX 985.892.5956

5153 BLUEBONNET BOULEVARD, SUITE B, BATON ROUGE, LA 70809 • 225.296.5150 • FAX 225.296.5151W W W. LAPO RTE -COM

RSM McGladrey NetworkAn Independently Owned Member

Our audit was performed for the purpose of forming an opinion on the basic combined financialstatements of Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc. taken asa whole. The accompanying schedule of expenditures of federal awards is presented for thepurpose of additional analysis as required by U.S. Office of Management and Buddet (OMB)Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and theSchedules I through IV are presented for the purpose of additional analysis and are not requiredparts of the basic combined financial statements. Such information has been subjected to theauditing procedures applied in the audit of the basic combined financial statements and, in ouropinion, is fairly stated, in all material respects, in relation to the basic combined financialstatements taken as a whole.

A Professional Accounting Corporation

June 20, 2008

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Combined Statement of Financial PositionDecember 31,2007

AssetsCurrent Assets

Cash and Cash EquivalentsAccounts Receivable - TradeInsurance ReceivableMerchandise InventoryPrepaid Expenses and Other

Total Current Assets

5,652,9233,924,6931,900,000

292,023230,829

12,000,468

Property and EquipmentLandBuilding and Building ImprovementsMachinery and EquipmentFurniture and FixturesAutomobiles and TrucksLeasehold ImprovementsComputer EquipmentCondo - Timeshare

Less: Accumulated Depreciation

Property and Equipment, Net

764,3121,355,8271,031,452

793,653330,144216,627

17,47630.000

4,539,491

2.145,231

2.394.260

Other AssetsDeposits

Total Assets

89,030

$ 14,483,758

The accompanying notes are an integral part of these financial statements.

Liabilities and Net AssetsCurrent Liabilities

Accounts Payable $ 655,462Accrued Expenses and Taxes 1,024,665Deferred Revenue 27,126Notes Payable 57,881

Total Current Liabilities 1.765,134

Long-Term LiabilitiesNotes Payable (Net of Current Maturities) 1,320,299

Net AssetsUnrestricted 10,748,114Temporarily Restricted 650,211Permanently Restricted -

Total Net Assets 11,398.325

Total Liabilities and Net Assets $ 14,483,758

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Combined Statement of ActivitiesFor the Year Ended December 31, 2007

Temporarily PermanentlyUnrestricted Restricted Restricted Total

Sales RevenueRetail StoresContributed Revenue - Donated GoodsSalvage

Total

Vocational Training RevenueJanitorial ContractsTraining FeesTraining Fees - United Way

Total

Other Sources of IncomeFederal Financial AssistanceContributionsGrant Income - City of New OrleansInvestment ReturnInsurance ProceedsMiscellaneous

Total

Total Revenue

ExpensesProgram Services

Retail Program - Cost of Goods SoldRehabilitation Services

Supporting ServicesManagement and General

Total Expenses

Change in Net Assets

Net Assets, Beginning of Year

Net Assets, End of Year

$ 7,116,344 $ - $3,062,175

510,200

10,688,719

5,858,819

144,378

6,003,197

6,745,668267,827

1,034,31648,341

3,442,13370,497

11,608,782

28,300,698

3,000,09119,407,515

1,426,853

23,834,459

4,466,239

6,281,875 650,211

$10,748,114 $ 650,211 $

$ 7,116,3443,062,175

510,200

10,688,719

5,858,819

144,378

6,003,197

6,745,668267,827

1,034,31648,341

3,442,13370,497

11,608,782

28,300,698

3,000,09119,407,515

1,426,853

23,834,459

4,466,239

6,932,086

$11,398.325


4

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Combined Statements of Cash FlowsFor the Year Ended December 31, 2007

Cash Flows from Operating ActivitiesChange in Net Assets $ 4,466,239

Adjustment to Reconcile Change in Net Assetsto Net Cash Provided by Operating Activities

Depreciation 288,600Net Impairment Loss on Buildings and Equipment 46,833Decrease in Accounts Receivable - Trade 922,071Increase in Insurance Receivable (1,900,000)Increase in Inventory (42,248)Decrease in Prepaid Expenses 328,124Decrease in Deposits 11,678Decrease in Accounts Payable (296,882)Increase in Accrued Expenses and Taxes 401,214Decrease in Deferred Revenue (1,748,152)

Net Cash Provided by Operating Activities 2,477.477

Cash Flows from Investing ActivitiesPurchase of Fixed Assets (311,613)

Net Cash Used in Investing Activities (311,813)

Cash Flows from Financing ActivitiesPayments on Notes Payable (105,341)

Net Cash Used in Financing Activities (105,341)

Net Increase in Cash and Cash Equivalents 2,060,323

Cash and Cash Equivalents, Beginning of Year 3,592,600

Cash and Cash Equivalents, End of Year $ 5,652,923

Supplemental InformationCash Paid for Interest $ 92,280


5

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Combined Statement of Functional ExpensesFor the Year Ended December 31, 2007

Wages and PensionWagesPension and Health and Welfare Benefit Plan

OccupancyRentGeneral Liability InsuranceUtilitiesRepairs and Maintenance - GeneralLinen and Housekeeping SuppliesAll Other

OperatingJanitorial SuppliesProduction MaterialsWaste Disposal FeesSpecific Assistance to IndividualsTravel and PromotionRental and Maintenance of EquipmentSupplies and GeneralRepairs - Company VehiclesGas and Oil - Company VehiclesInsurance - Company VehiclesLeasing Costs

AdministrativePayroll TaxesWorker's Compensation InsuranceInsurance - Employee BenefitsSubcontractingProfessional FeesNISH CommissionsTelephoneMembership DuesPrintingPostageEmployee TestingOther AdministrativeTax and LicensesBad Debt Expense

Depreciation

Total

Managementand General

$ 842,942-

842,942

-78,915

----

78,915

---

48,14117,12212,43659,2242,6722,726

16,300189

158,810

59.7802,441

66,558-

125,470-

20,8625,344

25,3838.170

374202

15-

314,599

31,587

$ 1.426,853

RehabilitationService

$10,106,990373,768

10,480,758

986,448532.343237,027264,157

-133,521

2,153,496

85,557502,173298,872

2,205,060158,773228,186222,683

18,515100,833216,160178,354

4,215,166

855,104214,629173,16129,763

312,325195,212159,796130,44836,83632,74931,62992,915

51536,000

2,301,082

257,013

$19,407,515

Total

$10,949,932373,768

11,323,700

986,448611,258237,027264,157

-133,521

2,232,411

85.557502,173298,872

2,253,201175,895240,622281,90721,187

103,559232,460178,543

4,373,976

914,884217,070239,719

29,763437,795195,212180,658135,79262,21940,91932,00393,117

53036,000

2,615,681

288,600

$20,834,368


6

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.

Notes to Combined Financial Statements

Note 1. Summary of Significant Accounting Policies

Goodwill Industries of Southeastern Louisiana, Inc. (Goodwill) and Goodworks, Inc.(Goodworks) (collectively the Organizations) follow the accounting procedures andpractices for voluntary health and welfare organizations established by the AmericanInstitute of Certified Public Accountants as published in the Industry Audit Guide on Auditsof Voluntary Health and Welfare Organizations, which constitute generally acceptedaccounting principles. The Organizations assist people with disabilities and other specialneeds in their efforts to participate fully in society by helping them develop occupationalcapabilities and opportunities. The Organizations' territory covers twenty-three parishes insoutheastern Louisiana.

Combination of Financial StatementsThe accompanying combined financial statements include the accounts of GoodwillIndustries of Southeastern Louisiana, Inc. and Goodworks, Inc. Inter-companytransactions and balances have been eliminated in combination.

Trade ReceivablesTrade receivables are carried at original invoice amount less an estimate made fordoubtful receivables based on a review of all outstanding amounts on a monthly basis.Management determines the allowance for doubtful accounts by identifying troubledaccounts and by using historical experience applied to an aging of accounts. Tradereceivables are written off when deemed uncollectible. Recoveries of trade receivablespreviously written off are recorded when received. The allowance for bad debts totaled$162,573, as of December 31, 2007.

Concentration of Credit RiskGoodwill's services are rendered to people with disabilities or other disadvantagingconditions in southeastern Louisiana. All of the training fees and grants are generatedfrom services to rehabilitation clients. Goodwill grants credit to several state offices for theabove stated training fees. As of December 31, 2007, Goodwill has an unused line ofcredit with a bank in the amount of $750,000, collateralized by accounts receivables.

The Organizations have bank accounts exceeding the insurance coverage provided by thefederal government. As of December 31, 2007, $5,077,285 of the total balance of cashand cash equivalents is not FDIC insured.

Contribution RecognitionThe Organizations record contributions as restricted if they are received with donorstipulations that limit the use of the donation. When a donor restriction expires, that is,when a stipulated time restriction ends or purpose restriction is accomplished, temporarilyrestricted net assets are reclassified to unrestricted net assets and reported in thestatement of activities as net assets released from restrictions. Donor restrictedcontributions whose restrictions are met in the same reporting period, are reported asunrestricted.



Note 1. Summary of Significant Accounting Policies (Continued)

Contribution Recognition (Continued)The Organizations report gifts of land, buildings, and equipment as unrestricted supportunless explicit donor stipulations specify how the donated assets must be used. Gifts oflong-lived assets with explicit restrictions that specify how the assets are to be used andgifts of cash and other assets that must be used to acquire long-lived assets are reportedas restricted support. Absent explicit donor stipulations about how long those long-livedassets must be maintained, the Organizations report expirations of donor restrictions whenthe donated or acquired long-lived assets are placed in service.

Financial Statement PresentationThe Organizations report information regarding their financial position and activitiesaccording to three classes of net assets: unrestricted net assets, temporarily restricted netassets, and permanently restricted net assets.

Donated Material and ServiceStatement of Financial Accounting Standards (SFAS) No. 116, Accounting forContributions Received and Contributions Made, requires that contributions be recognizedas revenue when received. During 2007, Goodwill recognized contributed merchandisewith a fair value of $3,062,175 as contribution revenue. This merchandise requiresprogram related expenses/processes accomplished by people with disabilities and otherdisadvantaging conditions before it reaches its point of sale.

Goods purchased for resale are valued at the lower of cost or net realizable value.

A substantial number of volunteers have donated significant amounts of their time in theOrganizations' program services. However, these services do not meet all of theapplicable requirements of SFAS No. 116; therefore, no amounts have been reflected inthe combined financial statements for these donated services.

Income TaxesGoodwill was formed in 1947, to provide services to the disabled. This organization waschartered in the State of Louisiana as a non-profit organization and is exempt fromFederal income taxes under Section 501 (c)3 of the Internal Revenue Code. Goodworkswas formed in 1998, in order to service government contracts. This organization waschartered in the State of Louisiana as a non-profit organization and is exempt fromFederal income taxes under Section 501 (c)3 of the Internal Revenue Code.

Cash and Cash EquivalentsThe Organizations consider all highly liquid debt instruments purchased with an originalmaturity of three months or less to be cash equivalents.



Note 1. Summary of Significant Accounting Policies (Continued)

Property and EquipmentProperty and equipment are stated at cost, with the exception of donated items, which arestated at fair market value at date of donation. Excluding land, the Organizations use thestraight-line depreciation method over the useful lives of its property and equipment.Buildings and improvements are depreciated over forty years. Furniture and fixtures aredepreciated over seven years. Machinery and equipment, automobiles and trucks aredepreciated over five years and Handy-Vans are depreciated over three years. Leaseholdimprovements are being amortized over the life of the lease. The Organizations capitalizefixed assets with costs of $1,000 or greater and a useful life of three years or more.Depreciation expense for 2007 was $288,600.

Use of EstimatesThe preparation of financial statements in conformity with accounting principles generallyaccepted in the United States of America requires management to make estimates andassumptions that affect certain reported amounts and disclosures. Accordingly, actualresults could differ from those estimates.

Merchandise InventorySFAS No. 116 requires that contributions be recognized as inventory when received andbe carried at fair value. Management estimates the fair value of inventory using a grossmargin method.

Accounting for Financial InstrumentsInvestments in marketable securities with readily determinable fair values and allinvestments in debt securities are valued at their fair market values in the cash and cashequivalents section in the combined statement of financial position.

Note 2. Cash and Cash Equivalents

As of December 31, 2007, cash equivalents included $271,524 of U.S. Treasury Securitiesdue within ninety days. Interest income on cash and cash equivalents is included ininvestment return on the accompanying combined Statement of Activities.

Note 3. Prepaid Expenses and Other Current Assets

The components of prepaid expenses and other current assets for December 31, 2007,are summarized below:

Prepaid Insurance $ 179,555Supplies 4,116Prepaid Rent/ Other 47.158

Total Prepaid Expenses and Other Current Assets £ 230r829



Note 4. Condominiums

Goodwill has two condominiums that it received as donations. Both condominiums werebeing depreciated using the straight-line method and are fully depreciated. Thecondominiums are being rented and the rental income is used to fund current operations.

Note 5. Notes Payable

Details of notes payable for the year ended December 31, 2007, consists of the following:

Note payable to bank with monthly principal and interestof $11,142 and one final payment of $1,015,491,maturing on January 23, 2014. Interest rate of5.90%. Secured by two properties. $ 1,372,732

Note payable to finance company auto with monthlypayments of $656, maturing on July 15, 2008.Interest rate at -0-%. Secured by vehicle. 3,348

Note payable to United Way Bynum Fund.Due on demand. . 2.100

1,378,180Less: Current Maturities 57.881

Long-Term Debt $ 1.320.299

10



Note 5. Notes Payable (Continued)

The maturities for the next five years are as follows:

Years Amount2008 $2009201020112012 and After

$ 1378.180

Interest expense totaled $ 92,280 for the year ended December 31, 2007.

Note 6. Lease Agreements

Goodwill has real estate leases as of December 31, 2007, expiring in various yearsthrough 2014.

Future minimum lease payments as of December 31st are as follows:Years Amount

2008 $ 1,062,1352009 878,7662010 691,1552011 588,4502012 and After 658.171

Total $ 3.878.677

Rent expense totaled $986,448 in 2007.

Goodwill leases eleven automobiles under operating leases expiring in various yearsthrough 2009. The minimum lease payments are as follows:

Years Amount2008 $ 56.1452009 28,321

Total $ 84.466

11



Note 7. United Way Contributions

Goodwill receives allocations and designations from several United Way Agencies.Allocations are restricted to funded programs, whereas, designations are unrestricted.The allocations and designations received in 2007, are as follows:

2007Allocations

United Way for the Greater NewOrleans Area

Total

$

$

7.085

7.085

Designations

$

S

Total

$

$

7.085

7.085

The above amount is included in Contributions on the Combined Statement of Activities.

Fees Paid for Rehabilitation Servicefrom United Way for the Greater New Orleans Area

Note 8. Reimbursements

Under its Projects with Industry (PWI) programs, Goodwill trains persons with disabilitiesand vocational disadvantaging conditions for employment. Goodwill receives fees for suchservices provided from the Louisiana Department of Social Services (Office of FamilySupport), Louisiana Rehabilitation Services, or United Way.

Note 9. Pension Plan and Health and Welfare Benefit Plan

Goodwill initiated a defined contribution pension plan in 1993 for the employees of itsfederal contracts. The plan does not have any minimum eligibility requirements toparticipate. Employer contributions vary based on terms of each Federal contract andregular hours of each employee. When Goodworks was formed in 1998, it assumedresponsibility for pension plan contributions from Goodwill. Goodworks contributed$285,889 to the plan in 2007. In 2007, Goodworks began a separate medical benefit planfor the employees of Goodworks. A total of $87,879 was contributed to this plan in 2007.

12



Note 10. Hurricane Katrina

On August 29, 2005, Hurricane Katrina made landfall on the Louisiana-Mississippi GulfCoast. The storm severely impacted the southeast Louisiana region. Goodwill andGoodworks were severely impacted. Goodwill's main office and several retail storessustained significant damage. Buildings, machinery, furniture and equipment and vehiclesthat were damaged resulted in assets of $1,993,246 being written off. After also writing offaccumulated depreciation on these assets of $1,946,413, the net book value of theseassets was reduced by $46,833, As of December 31, 2007, Goodwill had outstandinginsurance claims that had not been finalized. In the prior year Goodwill had filed a lawsuitto secure its ability to continue to negotiate with the insurance company. Subsequent toyear end Goodwill reached a settlement with the insurance company. In March of 2008Goodwill received a net amount after expenses of $1.9 million. This amount wasrecognized as income for the year ended December 31, 2007. A receivable in the amountof $1.9 million is reflected in the Combined Statement of Financial Position. Due to thefinal settlement, $1.6 million of insurance proceeds previously received were recognizedinto income during the current year. The Combined Statement of Activities reflectsinsurance proceeds totaling $3.4 million, which is net of impaired assets and otherexpenses and write-offs.

13

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Combining Statement of Financial PositionDecember 31, 2007(With Comparative Totals for 2006)

Schedule I

Goodwill Goodworks Elimination Total 2007 2006AssetsCurrent Assets

Cash and Cash EquivalentsAccounts Receivable - TradeInsurance ReceivableMerchandise InventoryDue from GoodworksPrepaid Expenses and Other

Total Current Assets

Property and EquipmentLandBuilding and Building ImprovementsMachinery and EquipmentFurniture and FixturesHandy-VansAutomobiles and TrucksLeasehold ImprovementsComputer EquipmentCondo - Timeshare

Less: Accumulated Depreciation

Property and Equipment, Net

Other AssetsDeposits

Total Assets

Liabilities and Net AssetsCurrent Liabilities

Accounts PayableAccrued Expenses and TaxesDeferred RevenueDue to GoodwillNotes Payable

Total Current Liabilities

Long-Term LiabilitiesNotes Payable (Net of Current Maturities)

Net AssetsUnrestrictedTemporarily RestrictedPermanently Restricted

Total Net Assets

$ 4,793,9141,046,3211,900,000

292,023142,097229,416

8.403,771

764,3121,355,827

156,407793,653

-286,989216,62715,46930,000

3,619,284

1,464,476

2,154,808

89,030

$ 10,647,609

$ 309,393892,38817,160

-57,881

1,276,822

1,320,299

7,400,277650,211

.

8,050,488

$ 859,0092,878,372

-•-

1,413

3,738,794

--

875,045--

43,155-

2,007-

920,207

680,755

239,452

-

$ 3.978,246

$ 346,069132,277

9,966142,097

-

630,409

-

3,347,837--

3,347,837

$ - $ 5,652,9233,924,6931,900,000

292,023(142,097)

230,829

(142,097) 12,000,468

764,3121,355,8271,031,452

793,653-

330,144216,62717,47630,000

4,539,491

2,145,231

2,394,260

89,030

$(142,097) $14.483.758

$ - $ 655,4621,024,665

27,126(142,097)

57,881

(142,097) 1,765,134

1,320,299

10,748,114650,211

-

11,398,325

S 3.592.6004,846.764

-249.775

-558,953

9.248.092

764,3122,695,0321,142.7051,038.011

9.736334,203162.67544.25030,000

6,220.924

3,803.044

2.417.880

100,708

$11.766,680

$ 952.344623.451

1.775.278-

86,237

3,437.310

1,397,284

6,281.875650.211

-

6.932,086

Total Liabilities and Net Assets $ 10.647,609 $ 3,978.246 $ (142,097) $ 14,483.758 $11.766.680

See accountant's report on supplemental information.

14

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GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Comparative Statements of Functional ExpensesFor the Years Ended December 31, 2007 and 2006

Schedule IV

Wages and PensionWagesPension and Health and Welfare

Benefit Plan

OccupancyRentGeneral Liability InsuranceUtilitiesRepairs and Maintenance - GeneralLinen and Housekeeping SuppliesAll Other

OperatingJanitorial SuppliesProduction MaterialsWaste Disposal FeesSpecific Assistance to IndividualsTravel and PromotionRental and Maintenance of EquipmentSupplies and GeneralRepairs - Company VehiclesGas and Oil - Company VehiclesInsurance - Company VehiclesLeasing Costs

AdministrativePayroll TaxesWorker's Compensation InsuranceInsurance - Employee BenefitsSubcontractingProfessional FeesNISH CommissionsTelephoneMembership DuesPrintingPostageEmployee TestingOther AdministrativeTax and LicensesBad Debt Expense

Depreciation

Total


$ 842,942

.

842,942

78,915-•--

78,915

•-

48,14117,12212,43659,2242,6722,726

16,300189

158,810

59,7802,441

66,558-

125,470-

20,8625,344

25,3838,170

374202

15•

314,599

31,587

$ 1,426,853

Combined TotalRehabilitation

Service

$ 10,106,990

373,768

10,480,758

986,448532,343237,027264,157

-133,521

2,153,496

85,557502,173298,872

2,205,060158,773228,186222,68318,515

100,833216,160178,354

4,215,166

855,104214,629173,16129,763

312,325195,212159,796130,44836,83632,74931,62992,915

51536,000

2,301,082

257,013

$ 19,407,515

Combined TotalTotal2007

$10,949,932

373,768

11,323,700

986,448611,258237,027264,157

-133,521

2,232,411

85,557502,173298,872

2,253,201175,895240,622281,90721,187

103,559232,460178,543

4,373,976

914,884217,070239,71929,763

437,795195,212180,658135,79262,21940,91932,00393,117

53036,000

2,615,681

288,600

$20,834,368


$ 722,470

.

722,470

35,200----

35,200

--

27,81626,59136,26336,754

1,5402,554

15.608793

147,919

53,0032,783

66,393-

87,904- '

20,012309

2,22410,575

-58,755

160-

302,118

16,873

$1,224.580

RehabilitationService

$10.532,554

123,179

10,655,733

827,861495,281185,994260,344

2,199165,442

1,937,121

62,189450,377257,705

1,823.110133,716351,027294,231

19,87879,645

155,587111,915

3,739,380

890,963254,821115,559

6,954332,992217,216181,874116,72847,18929,681

-37,937

1,13147,425

2,280,470

284,935

$18,897,639

Total2006

$11,255,024

123,179

11,376,203

827,861530,481185,994260,344

2,199165,442

1,972,321

62,189450,377257,705

1 ,850,926160,307387,290330,98521,41882,199

171,195112,708

3,887,299

943,966257,604181,952

6,954420,896217,216201 ,886117,03749,41340,256

-96,692

1,29147,425

2,582.588

301,808

$20,122,219

See accountant's report on supplemental information.

18

OMB CIRCULAR A-133 SECTION

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Schedule of Expenditures of Federal AwardsFor the Year Ended December 31,2007

Federal Grant or Pass Through GrantorProgram Title

Total Federal StateFederal Pass-Through Revenue/ Revenue/ Revenue/CFDA Grantor's Expenses Expenses Expenses

Number Number Recognized Recognized Recognized

Major Programs

U.S. Department of Labor

Passed Through City of New OrleansWorkforce Investment ActWorkforce Investment ActNational Emergency GrantWorkforce Investment Act

Subtotal - U.S. Department of Labor

U.S. Department of Housing and UrbanDevelopment

Passed Through Unity for the HomelessKitchen ManagementKitchen ManagementEmploymentEmploymentCulinary ArtsCulinary Arts

Subtotal - U.S. Department of Housingand Urban Development

Total Major Programs

Other Federal Assistance

U.S. Department of Education

PWl Career Development Retention

Subtotal - U.S. Department of Education

17.258 05-ECND-17C/OS-ECND-17 $2,080,481 $2,080.481 $17.260 05-ECND-17C/05-ECND-1717.260 05-ECND-1717.259 05-ECND-17C / 05-ECND-17

14.23514.23514.23514.23514.23514.235

84.234R

LA48B650-3019LA48B-60-3019LA48B-50-3026LA48B-60-3026LA48B-50-3027LA48B-60-3027

H234R050131-06/07

471,2842,009,2171.599,857

302,078

106,519

471,2842.009.2171.599.857

6.160.839 6,160,839

36,28127,55417,70733,19936.319151.018

36,28127.55417.70733.19936,319151,018

---.

--

302.078

6,462,917 6,462.917

106,519

106^519 106.519

U. 5. Department of Labor

Workforce Investment Act - STEP

Subtotal - U.S. Department of Labor

Total Other Federal Assistance

Total

93.558 05-ECND-17C / 05-ECND-17 176.232

176.232

282,751

176,232

176,232

282.751

$6.745,668 S 6.745,666 $

19

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Schedule of Expenditures of Federal AwardsFor the Year Ended December 31, 2007

Note 1. Basis of Presentation

The accompanying schedule of expenditures of federal awards includes the federalgrant activity of Goodwill and Goodworks and is presented on the accrual basis ofaccounting. The information in this schedule is presented in accordance with therequirements on OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differfrom amounts presented in, or used in the preparation of the basic financial statements.

20

RpMIGHANDCERTIFIED PUBLIC ACCOUNTANTS

REPORT ON INTERNAL CONTROL OVER FINANCIALREPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED

ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED INACCORDANCE WITH GOVERNMENT AUDITING STANDARDS



We have audited the combined financial statements of Goodwill Industries of SoutheasternLouisiana, Inc. and Goodworks, Inc., as of and for the year ended December 31, 2007, and haveissued our report thereon dated June 20, 2008. We conducted our audit in accordance withauditing standards generally accepted in the United States of America and the standardsapplicable to financial audits contained in Government Auditing Standards, issued by theComptroller General of the United States.

Internal Control Over Financial Reporting

In planning and performing our audit we considered Goodwill Industries of SoutheasternLouisiana, Inc. and Goodworks, Inc.'s internal control over financial reporting as a basis fordesigning our auditing procedures for the purpose of expressing our opinion on the financialstatements, but not for the purpose of expressing an opinion on the effectiveness of GoodwillIndustries of Southeastern Louisiana, Inc. and Goodworks, Inc.'s internal control over financialreporting. Accordingly, we do not express an opinion on the effectiveness of the Organizations'internal control over financial reporting.

A control deficiency exists when the design or operation of a control does not allow managementor employees, in the normal course of performing their assigned functions, to prevent or detectmisstatements on a timely basis. A significant deficiency is a control deficiency, or combination ofcontrol deficiencies, that adversely affects the organization's ability to initiate, authorize, record,process, or report financial data reliably in accordance with generally accepted accountingprinciples such that there is more than a remote likelihood that a misstatement of theorganizations' financial statements that is more than inconsequential will not be prevented ordetected by the organization's internal control.

A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that a material misstatement of the financial statementswill not be prevented or detected by the organization's internal control.

110 VETERANS MEMORIAL BOULEVARD, SUITE 200, METAIRIE, LA 70005-4958 • 504.835.5522 • FAX 504.835.55355100 VILLAGE WALK, SUITE 202, COVINGTON, LA 70433-4012 • 985.892.5850 • FAX 985.892.5956

5153 BLUEBONNET BOULEVARD, SUITE B, BATON ROUGE, LA 70809 • 225.296.5150 • FAX 225.296.5151WWW.LAPORTE.COM

RSM McGladrev NetworkAn Independent Owned Member

Our consideration of internal control over financial reporting was for the limited purpose describedin the first paragraph of this section and would not necessarily identify all deficiencies in internalcontrol that might be significant deficiencies or material weaknesses. We did not identify anydeficiencies in internal control over financial reporting that we consider to be material weaknesses,as defined above.

Compliance and Other Matters

As part of obtaining reasonable assurance about whether Goodwill Industries of SoutheasternLouisiana, Inc. and Goodworks, Inc.'s financial statements are free of material misstatement, weperformed tests of its compliance with certain provisions of laws, regulations, contracts and grantagreements, non-compliance with which could have a direct and material effect on thedetermination of financial statement amounts. However, providing an opinion on compliance withthose provisions was not an objective of our audit, and accordingly, we do not express such anopinion. The results of our tests disclosed no instances of noncompliance or other matters thatare required to be reported under Government Auditing Standards.

This report is intended solely for the information of the Governance Committee, Boards ofDirectors, management, federal awarding agencies and pass-through entities, and the LegislativeAuditor of the State of Louisiana, and is not intended to be and should not be used by anyoneother than these specified parties. Under Louisiana Revised Statute 24:513, this report isdistributed by the Legislative Auditor as a public document.


June 20, 2008

ROMIGRANDCERTIFIED PUBLIC ACCOUNTANTS

REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLETO EACH MAJOR PROGRAM AND ON INTERNAL CONTROL

OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133



Compliance

We have audited the compliance of Goodwill Industries of Southeastern Louisiana, Inc. andGoodworks, Inc. with the types of compliance requirements described in the United States Officeof Management and Budget (OMB) Circular A-133 Compliance Supplement that are applicable toeach of its major federal programs for the year ended December 31, 2007. Goodwill Industries ofSoutheastern Louisiana, Inc. and Goodworks, Inc.'s major federal programs are identified in thesummary of auditor's results section of the accompanying schedule of findings and questionedcosts. Compliance with the requirements of laws, regulations, contracts and grants applicable toeach of its major federal programs is the responsibility of Goodwill Industries of SoutheasternLouisiana, Inc. and Goodworks, Inc.'s management. Our responsibility is to express an opinionon Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc.'s compliance basedon our audit.

We conducted our audit of compliance in accordance with auditing standards generally acceptedin the United States of America; the standards applicable to financial audits contained inGovernment Auditing Standards, issued by the Comptroller General of the United States; and(OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations.Those standards and OMB Circular A-133 require that we plan and perform the audit to obtainreasonable assurance about whether noncompliance with the types of compliance requirementsreferred to above that could have a direct and material effect on a major federal programoccurred. An audit includes examining, on a test basis, evidence about Goodwill Industries ofSoutheastern Louisiana, Inc. and Goodworks, Inc.'s compliance with those requirements andperforming such other procedures as we considered necessary in the circumstances. We believethat our audit provides a reasonable basis for our opinion. Our audit does not provide a legaldetermination of Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc.'scompliance with those requirements.

In our opinion, Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc. complied,in all material respects, with the requirements referred to above that are applicable to each of itsmajor federal programs for the year ended December 31,2007.

110 VETERANS MEMORIAL BOULEVARD, SUITE 200, METAIRIE, LA 70005-4958 • 504.835.5522 • FAX 504.835.55355100 VILLAGE WALK, SUITE 202, COVINGTON, LA 70433-4012 • 985.892.5850 • FAX 985.892.5956

5153 BLUEBONNET BOULEVARD, SUITE B, BATON ROUGE, LA 70809 • 225,296.5150 • FAX 225.296.5151W W W. LAPORTE. COM

RSMMcGladrey Network*n Independently Owned Member

Internal Control Over Compliance

The management of Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc.'sis responsible for establishing and maintaining effective internal control over compliance with therequirements of laws, regulations, contracts and grants applicable to federal programs. Inplanning and performing our audit, we considered Goodwill Industries of SoutheasternLouisiana, Inc. and Goodworks, Inc.'s internal control over compliance with requirements thatcould have a direct and material effect on a major federal program in order to determine ourauditing procedures for the purpose of expressing our opinion on compliance, but not for thepurpose of expressing an opinion on the effectiveness of internal control over compliance.Accordingly, we do not express an opinion on the effectiveness of Goodwill Industries ofSoutheastern Louisiana, Inc. and Goodworks, Inc.'s internal control over compliance.

A control deficiency in an entity's internal control over compliance exists when the design oroperation of a control does not allow management or employees, in the normal course ofperforming their assigned functions, to prevent or detect noncompliance with a type ofcompliance requirement of a federal program on a timely basis. A significant deficiency is acontrol deficiency, or combination of control deficiencies, that adversely affects the entity's abilityto administer a federal program such that there is more than a remote likelihood thatnoncompliance with a type of compliance requirement of a federal program that is more thaninconsequential will not be prevented or detected by the entity's internal control.

A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that material noncompliance with a type of compliancerequirement of a federal program will not be prevented or detected by the entity's internalcontrol.

Our consideration of the internal control over compliance was for the limited purpose describedin the first paragraph of this section and would not necessarily disclose all deficiencies in internalcontrol that might be significant deficiencies or material weaknesses. We did not identify anydeficiencies in internal control over compliance that we consider to be material weaknesses, asdefined above.

This report is intended solely for the information of the Governance Committee, Boards ofDirectors, Management, federal awarding agencies and pass-through entities, and theLegislative Auditor of the State of Louisiana, and is not intended to be and should not be used byanyone other than these specified parties. Under Louisiana Revised Statute 24:513, this reportis distributed by the Legislative Auditor as a public document.


June 20, 2008

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INCSchedule of Findings and Questioned CostsFor the Year Ended December 31, 2007

A. Summary of Audit Results

1. The auditor's report expresses an unqualified opinion on the combined financialstatements of Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks,Inc.

2. No significant deficiencies relating to the audit of the combined financialstatements of Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks,Inc. are reported in the Report on Internal Control Over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial StatementsPerformed in Accordance with Government Auditing Standards.

3. No instances of non-compliance material to the combined financial statements ofGoodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc. weredisclosed during the audit.

4. No significant deficiencies relating to the audit of the major federal awardprograms are reported in the Report on Compliance with RequirementsApplicable to Each Major Program and Internal Control over Compliance inAccordance with OMB Circular A-133.

5. The auditor's report on compliance for the major federal award programs forGoodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc.expresses an unqualified opinion.

6. Audit findings that are required to be reported in accordance with Section 510(a)of OMB Circular A-133 are reported in Part C of this Schedule.

7. The programs tested as major programs included:

PROGRAM CFDA No.

Workforce Investment Act 17.258Workforce Investment Act 17.260Workforce Investment Act 17.259National Emergency Grant 17.260Unity for the Homeless 14.235

8. The threshold for distinguishing Types A and B programs was $300,000.

9. Goodwill Industries of Southeastern Louisiana, Inc. and Goodworks, Inc. were notdetermined to be low-risk auditees.

B. Findings - Financial Statements Audit

None

C. Findings and Questioned Costs - Major Federal Award Programs Audit

None

25

GOODWILL INDUSTRIES OF SOUTHEASTERN LOUISIANA, INC.AND GOODWORKS, INC.Status of Prior Year Audit FindingsFor the Year Ended December 31, 2007

Prior Year Audit Findings

None Noted

26

Documents

Goodwill Industries of Southeastern Louisianaapp1.lla.la.gov/PublicReports.nsf/BB3120AD18D355F...the combined financial position of Goodwill Industries of Southeastern Louisiana, Inc